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$284,900

7006 Memphis Ave, Lubbock, TX, 79413

On MarketInfo
Just AddedInfo
Beds4 Beds
Baths2 Bath
Baths2,243 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$127.02 / sqft
Year BuiltBuilt in 1968

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesCooktop, Dishwasher, Double Oven, Electric Cooktop, Electric Oven, Electric Range
FlooringCarpet, Tile

Exterior

Exterior FeaturesStorage
Lot Size8,475 sqft

Building Information

Year Built1968
Roof Type105
Garage Spaces2

Land Information

APNR43462
Lot Number7920
SubdivisionMelonie Park
Land UseResidential
Legal DescriptionMELONIE PARK L 792
Census Tract001908
Assessed Land Value$26,250
Assessed Improvement Value$233,759
Assessment Year2025

About this property

When you drive up to this home you'll notice the circular driveway. This 4 Bedroom/ 2 Bath/ 2 Car Garage home has charm. Once you enter, you'll see a large living area with a beamed cathedral ceiling and a fireplace. The kitchen has a breakfast bar, double oven, stainless steel sink, tile backsplash, and loads of counter/cabinet space. The dining area is large. The main bedroom is isolated. The other bedrooms are spacious, and each one has a walk-in closet. The fourth bedroom could be an office. The backyard has several pecan trees and a covered porch.

Investor Tools

$101,319Estimated Mortgage Balance
$196,681Estimated Equity
66% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,788 /month
Positive
Cash Flow Estimate:
$596 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$508/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$4,601
$260,009
2025
$26,250
$233,759
$260,009
No

Tax History

Year
Tax Paid
Assessed Value
2025
$4,601
$260,009

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Peoples Bank
Conventional
$125,250
No
First
Jun 16, 2017
Jul 2047

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$101,319
$196,681
66%
34%
$751/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,960/mo
$751/mo
+$1,209/mo
7.9%

Learn About the Market: Opportunity in Texas

Local Market Pages
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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Lubbock

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7006 Memphis Ave | Property Details | No Agent List